Shanghai: Encouraging private enterprises to focus on strengthening and improving traditional industry transformation and upgrading through mergers and acquisitions.

The Shanghai Municipal Government issued "Several Measures to Promote the High-Quality Development of the Private Economy in the New Era and New Journey," which mentions broadening financing channels for private enterprises. Strengthening listing guidance, legal services, etc., to assist private enterprises in financing through the multi-level Capital Markets such as the Star, GEM, and Main Board. Enhancing merger and acquisition service levels, encouraging private enterprises to focus on strengthening and improving traditional industry transformation and upgrading through mergers and acquisitions, and cultivating leading private technology enterprises and chain-leading private enterprises. Supporting listed private companies in using repurchases, Shareholding, and other tools for Market Cap management. High-tech and Specialized, Special and New enterprises that meet the criteria may independently borrow foreign debt within the equivalent of 10 million US dollars. Relying on the comprehensive pilot work of Shanghai's intellectual property financial ecosystem, optimizing intellectual property pledge financing services for private enterprises. Encouraging government investment funds, industrial support funds, and others to support private investment projects.